Archive for December 20th, 2013

Foreign Exchange Insights and Next Week

Next Week

December 20, 2013

Next week will be dominated by holidays – Christmas on Wednesday but also Xmas Eve on Tuesday, Boxing Day on Thursday, and the Japanese Emperor’s Birthday on Monday.  This is always one of the quietest times of the year in currency markets and not more so than when Christmas falls right in the middle of […] More

Central Bank Watch

Bank of Japan

December 20, 2013

The Policy Board’s final monetary policy meeting of 2012, lasting five hours and 43 minutes over two days, produced little of a surprising or noteworthy nature.  Officials released a statement that’s an extremely close facsimile to the prior November 21 statement.  Policy settings were not changed, nor was the assessment of growth conditions and inflation.  […] More

Central Bank Watch

Reserve Bank of India Policymakers Decide to Wait but Remain Vigilant about Inflation

December 20, 2013

This week’s mid-quarter policy review left the repo rate at 7.75%, the reverse repo at 6.75% and the cash reserve requirement at 6.75%.  The decision not to tight further was a difficult one.  In a world of disinflation, India sticks out as one place where excessive inflation remains stubbornly entrenched. There are indications that vegetable […] More

New Overnight Developments Abroad - Daily Update

Week Ends with a BOJ Meeting, U.S. and U.K. GDP Revisions, and an EU Banking Plan in which Few Trust

December 20, 2013

The Bank of Japan left its quantitative monetary policy and economic assessment unchanged.  Governor Kuroda believes 2% inflation will be reached by the spring of 2015 despite the coming sales tax increase. U.S. third-quarter GDP was revised up a half percentage point to 4.1% at an annualized quarterly pace, the fastest rate since the first […] More

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